Selling Info & Tips
In our experience, we have learned that the best price comes from the best preparation. As your real estate partner it is our intention — via this document — to help you maximise your price and to make the sale of your property an enjoyable and rewarding experience.
It’s important that we keep our eyes on the prize. The prize is securing the best possible price for your home. Your profit will be realised when we attract a cashed-up buyer, who will inspect the home on the surface then obtain a building and pest report that will influence the final dollar decision. With this understanding we have constructed this document in a way that clearly works to our final moment of truth.
So let’s get started with Maintaining & Preparing your home for profit.
Your home is your greatest asset In life and real estate it is often said that your principal place of residence is possibly your biggest asset. As a passionate industry professional I find this true for so many people in the community whom get the chance to represent. With this in mind it is important that as a property owner you do all you can to maintain the property throughout its lifetime to protect and grow your asset, so at the time of eventual sale you receive the best possible cash profit from your investment. Your home could deliver you a tax-free windfall.
Selling your home is a valuable opportunity for wealth and profit. Unlike other financial investments your principal place of residence is free from capital gains tax and stamp duty. Therefore, a chance of a tax-free gain is rare and should be seized with both hands. Selling is a one-off opportunity for cash. Selling your home presents a unique opportunity to make a chunk of money without you having to sweat for it. Typically every dollar your home sells over the perceived market value is worth two dollars of your hard-earned labour.
For example if you secure a price $10,000 over reserve – that saves you having to earn $20,000 pre-tax to have that $10,000 in your hand. If $50,000 is achieved over reserve, you would have to earn $100,000 pre-tax to have that $50,000 in your hand.
Secure the dollars you deserve for the property you own. You get only one chance to sell for profit and then the value passes on to the next owner – so make the most of it!
When it comes time to market a property, there are no shortcuts to a great price. A lot of preparation has to be undertaken, therefore, to make sure your property hooks and pulls a potential buyer in. When a buyer sees your property online or in person, she or he must think, “that’s the one”.
Clean and sparkling homes sell well. If you do the work for a potential buyer and your property is clean, crisp, complete and:
This could have a significant impact at sale time.
You could earn more than $60,000 to $100,000 over reserve. The magic happens when you take the hard work out of the equation. Everyone is so busy, potential buyers are prepared to pay for somebody else’s sweat and effort. Profit from that. A home that doesn’t require work is an attractive prospect. Maintaining and preparing your home for profit is a successful strategy for everyone involved. Often incoming purchasers are stretched to their limit and would not qualify for a renovation loan. This is the reason why people will pay more for a finished, neat and well-maintained property.
A bank will loan on a property’s actual current value. A bank does not favour lending on unfinished or damaged properties. However, if the property has a clean bill of health, the new purchaser is effectively getting a renovation loan on a product with no risk. It’s a win, win. Keep your eye on the prize. You want to create the best possible home to attract the best possible buyer for the best possible price.
When preparing their home for sale, some people redraw on the current loan to complete repairs quickly. Other people take a longer-term approach. We suggest making a list and spending the months ahead of time of a possible sale, project managing the repairs with a slow and steady budget approach.